DJ Venustech's Strong 2020 Earnings Could Reassure Investors -- Market Talk
0355 GMT - Venustech Group's strong earnings over the past year will likely appease some recent investor concerns about the company's competitive advantage and growth momentum, Citi says. It keeps a buy rating and CNY45.50 target price on the stock. The Chinese network security company's revenue jumped 18% in 2020, beating expectations, thanks to surging income from its new businesses in the fast-growing cloud and industrial-internet sectors. Investors have been selling off the stock due to the 3Q revenue growth slowdown, but Citi says the full-year results show that Venustech is capable of maintaining its growth momentum, which should boost market confidence in its 2021 outlook. Shares jump 7.6% to CNY33.92. (yifan.wang@wsj.com)
(END) Dow Jones Newswires
March 02, 2021 22:55 ET (03:55 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.